Buy Gold Around 58500 SL Below 58300 TGT 58800/59000 - Axis Securities Ltd
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GOLD
Gold prices closed on a positive note in the last session. On the daily chart prices has formed a large bullish candle and has closed above its previous session high which indicate that momentu is strong for prices. Moreover prices is trading above 9 and 20 EMA and RSI is above its reference line which indicate that the trend is tilted towards the upside. Traders may Gold on dips around 58500 for the target of 58800 on intraday basis.
BUY GOLD AROUND 58500 SL BELOW 58300 TGT 58800/59000
CRUDE OIL
Crude oil prices extended its winning streak for four days in a row. Prices broke the resistance zone of 6000 level and made a new weekly high of 6078 level. It closed with gains of more than 2 percent. On the daily chart it is trading above 20 and 9 EMA and RSI is trading near 60 level which is a positive sign for prices. Traders can buy Crude oil on dips around 5980 for the target of 6030 on intraday basis.
BUY CRUDE OIL AROUND 5980 SL BELOW 5940 TGT 6030/6100
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